Green Star Reports Record Second Quarter 2011 Financial Results
"The first half of 2011 saw the company achieve significant milestones," said Guan Lianyun, President and CEO of Green Star. "In the first six months of the year, we became a company listed on the Stock Exchange TSX Venture Exchange and reported consecutive quarters of record revenues and EBITDA by increasing our production capacity and sales in our core markets and adding a new product line to fill idle capacity seasonally."
Q2 2011 Financial Highlights and Operating
Q2 revenue record of the main sources of revenue Green Star is derived from the sale of canned foods and fresh produce of agriculture. Division canned food consists mainly of food processing, canned including the manufacture of tomato paste, canned bamboo shoots boiled, canned oranges, canned peaches and other fruit types.The division of agricultural products consists of the cultivation and harvesting of agricultural products such as oranges and fresh bamboo shoots for sale either directly as fresh or canned and sold in Canada and abroad.Green Star has reported consolidated revenues for the same period last year. Revenue growth is due to additional production and sales of tomato paste and canned bamboo shoots canned within the division canned food as well as increased selling prices in the second quarter.
Revenue Division canned food increased by 18.6% in Q2 2011 vs. Q2 2010 while revenues from the division of agricultural products increased by 24.5% in Q2 2011 from Q2 2010.
The average increase in selling price of canned foods was 12.4% compared to Q2 2010 to Q2 2011, which was caused by increased raw material costs. The amount of sales for the division of canned rose 6.4% in Q2 2011 over Q2 2010. In Q2 2011, revenues increased canned food 18.6% compared to Q1 2010.
The average increase in prices of agricultural products was 58.3% compared to Q2 2010 to Q2 2011.The price increase is mainly due to bad weather causing a reduction in the harvest of bamboo, however, demand remained high. The amount of sales of agricultural products decreased by 20.5% compared to Q2 2010. Income of the agricultural products division increased by 24.5% compared to Q2 2010. The increase in revenue based on agricultural products is mainly due to increased sales of fresh bamboo.
Mening Of Net Profit Margin - News
Gross profit increased by 24.1% to RMB67.6 million ($10.5 million) from RMB54.4 million from the prior year period. Gross margin was 77.3%, compared to 75.9% for the prior year period. Operating income increased by 31.7% to RMB30.8 million ($4.8
The increase in gross profit percentage for Q2 2011 over Q2 2010 was a result of increased sales margins in the canned food division. The canned food division's gross profit margin was 34.7% in Q2 2011 and 29.6% in Q2 2010.
Gross profit on sales for the fourth quarter of fiscal 2011 was $447.6 million, a decrease of $42.9 million compared to the same period in the prior fiscal year (which included an additional week). As a percentage of net sales, gross margin was 27.7%
With a net-profit margin of almost 40 percent (among the highest within the large-cap mining universe), it is an extremely well-managed company. The share price hasn't performed well this year, and suffered a big drop during the August market turmoil
The Company reported revenues for the one month period ended June 30, 2010 of $1002331 with a gross profit margin of 56%. Net income for the one month period was $36489, or $.02 per share. The Company reported revenues for the fiscal year 2011 of
China Sun Group High-Tech Co. Announces Fourth Quarter and ...
("China Sun Group" or the "Company"), a vertically integrated supplier of raw materials for lithium-ion (Li-ion) in China, today announced its fourth quarter and year ended May 31, 2011 results.
Fourth quarter ended May 31, 2011 Financial Results Highlights
Fourth quarter revenues fell 1.3% to $ 10.8 million compared to $ 11.0 million for the comparable period in 2010
Gross profit increased 5.1% to $ 3.8 million compared to $ 3.6 million for the comparable period in 2010
Net income increased 2.9% to $ 2.4 million, or $ 0.044 per diluted share, compared to $ 2.3 million, or $ 0.043 per diluted share for the comparable period in 2010
Year ended 31 May 2011 Financial Results Highlights
The fiscal 2011 increased 17.9% to $ 48.6 million compared to $ 41.2 million for fiscal 2010
Gross profit increased 23.7% to $ 16.1 million compared to $ 13.1 million for fiscal 2010
Net income decreased 2.1% to $ 8.4 million, or $ 0.15 per diluted share, compared to $ 8.6 million, or $ 0.16 per diluted share, in fiscal 2010
Non-GAAP net income, excluding $ 1.8 million of a time share-based consulting expenses incurred during the second fiscal quarter, as previously announced, rose 18.6% to 10.2 million or $ 0.18 per diluted share
"In fiscal 2011, we experienced strong growth in sales and gross profit as a result of increasing demand and sales of our lithium iron phosphate (LIP).Our product PIL recorded an attractive gross margin of 52% for 2011 and we continue to benefit from growing demand for this product, "said CEO, Mr. Guosheng Fu. "We also expanded our sales and marketing efforts and focus on investment in the renovation of our facilities to make way for mass production of lithium iron phosphate in the second quarter of fiscal 2011. At the end of fiscal 2011, six of our product lines before cobaltosic oxide had been converted into lines of lithium iron phosphate, and we continue to use four lines cobaltosic oxide production.
Mening Of Net Profit Margin - Bookshelf
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